Why Your Business Should Consider Cargo Insurance

Whether you’re shipping products across town or around the world, your cargo faces numerous risks during transit. Many business owners assume their standard business insurance or the carrier’s coverage will protect their goods, but this often leaves significant gaps in protection. At Choice One Insurance, Inc., serving Portland OR, we help businesses understand why cargo insurance is essential for protecting their valuable shipments.

Understanding Coverage Gaps

Shipping companies typically offer minimal liability coverage that falls far short of your cargo’s actual value. Their coverage often excludes common causes of loss, like weather damage, theft, or handling errors. If your shipment gets damaged or lost, you could face substantial financial losses without proper cargo insurance. This protection becomes even more critical when shipping high-value items or products essential to your business operations.

Beyond Basic Coverage

Cargo insurance provides comprehensive protection that follows your goods from origin to destination. This coverage protects against risks like fires, theft, collisions, natural disasters, and even "mysterious disappearances" (unexplained losses without evidence of theft or accident). Unlike carrier liability, cargo insurance typically covers the full replacement value of your goods, helping you recover quickly from losses and maintain customer relationships.

Peace of Mind for Growing Businesses

As your business expands and shipping volume increases, the potential for losses grows proportionally. Cargo insurance allows you to take on larger orders and explore new markets with confidence. The relatively small premium provides significant protection that can prevent a single shipping disaster from devastating your business finances.

Secure Your Shipments

Don’t let inadequate coverage put your business at risk during transit. Cargo insurance provides the comprehensive protection your valuable shipments deserve. Contact Choice One Insurance, Inc., serving Portland, OR, to discuss customized cargo insurance solutions that fit your business needs and budget.